China waives tariffs on some U.S. goods, but denies Trump's claim that talks are underway
By Andrew Silver, Trixie Yap and Gram Slattery
(Reuters) -China exempted some U.S. imports from its steep tariffs in a sign on Friday that the trade war between the two countries could be easing, though China quickly knocked down U.S. President Donald Trump's assertion that negotiations were underway.
Business groups said China has allowed some U.S.-made pharmaceuticals to enter the country without paying the 125% duties that Beijing imposed earlier this month in response to Trump's 145% tariffs on U.S. imports.
Also, a list of 131 product categories said to be under consideration for exemptions was circulating among some businesses and trade groups. Reuters could not verify the list, which includes vaccines, chemicals and jet engines, and China has not yet communicated publicly on the issue.
Trump's administration has in recent days signaled it is looking to de-escalate the confrontation between the world's two largest economies, and Trump himself told TIME magazine that talks were taking place and that Chinese President Xi Jinping had called him.
"I don't think it's a sign of weakness on his behalf," he said.
China denied that discussions were happening.
"China and the U.S. are NOT having any consultation or negotiation on #tariffs. The U.S. should stop creating confusion," the Chinese Embassy in Washington wrote on social media.
In addition to the steep tariffs on China, Trump has announced targeted tariffs on dozens of other countries, which he has suspended until July 9. That has set off a scramble among U.S. trading partners to strike individual trade deals with Washington before the deadline -- a tall order, given that past trade deals have typically taken years to negotiate.
Trump told reporters at the White House that he was very close to a deal with Japan. That is seen by analysts as a "test case" for other bilateral trade agreements, though talks could be difficult. Some expect Prime Minister Shigeru Ishiba and Trump to announce a pact when they meet at the G7 summit in Canada in June.
Trump separately told TIME that he had made "200 deals" that would be completed within three to four weeks, though he declined to provide specifics. He said he would consider it a "total victory" if tariffs were still 20% to 50% a year from now.
The office of the U.S. Trade Representative said it had held a productive meeting with South Korea on Friday.
Trump has argued that his thicket of trade barriers will revive U.S. manufacturing industries that have been hollowed out by global competition. Economists, however, broadly warn that they would lead to higher prices for U.S. consumers and increase the risk of recession.
In addition to the country-specific tariffs, Trump has also imposed a blanket 10% tariff on all other U.S. imports and higher duties on steel, aluminum and autos. He has also floated additional industry-specific levies on pharmaceuticals and semiconductors.
European and Asian stocks headed for a second straight week of gains on Friday and the dollar eyed its first weekly rise in more than a month, as investors took comfort from signs the U.S. and China were prepared to pull back from their trade war. Wall Street's main indexes opened slightly lower.
(Writing by Andy Sullivan; Editing by Chizu Nomiyama)
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CBS News
30 minutes ago
- CBS News
Downtown L.A. curfew goes into effect after California Gov. Gavin Newsom addresses ICE protests
California Gov. Gavin Newsom delivered a statewide address on Tuesday in the wake of immigration operations that sparked days of protest in Los Angeles and the deployment of hundreds of National Guard and U.S. Marines troops to the area by President Trump. "Trump, without consulting California leaders, commandeered 2,000 of our state's National Guard members to deploy on our streets illegally and for no reason," Newsom said. "This brazen abuse of power by a sitting president enflamed a combustible situation, putting our people, our officers and even our National Guard at risk." The speech came on the heels of Mayor Karen Bass' decision to implement a curfew in downtown Los Angeles after five nights of unrest in the city center, and an emergency motion for a temporary restraining order filed by the state in its lawsuit to block further deployment of troops. That curfew resulted in dozens of arrests on Tuesday, with law enforcement swarming the impacted area as soon as it went into effect. Sporadic arrests followed. It was unclear how many were made in all. Since Friday, when the first operations took place in several downtown locations, protesters have taken to the streets to denounce the arrest of dozens of people. In some instances, protests have escalated into violent clashes that left an aftermath of destruction, including graffiti, looting, vandalism and debris. The next night, Mr. Trump declared that the National Guard would be deployed to Los Angeles to help quell the turmoil, despite opposition from California politicians who said it was largely unnecessary. That order was then followed by the deployment of 2,000 more National Guard troops and 700 U.S. Marines to the area as the protests continued, something Newsom called "fanning the flames even harder." "The President, he did it on purpose. As the news spread throughout L.A., anxiety for family and friends ramped up and protests started again. By night, several dozen lawbreakers became violent and destructive, they vandalized property, they tried to assault police officers," Newsom said. "This situation was winding down and was concentrated in just a few square blocks downtown. But that, that's not what Donald Trump wanted." "What we're witnessing is not law enforcement — it's authoritarianism. What Donald Trump wants most is your fealty, your silence, to be complicit in this moment," Newsom said. "Do not give into him." Los Angeles police and protestors face off in Downtown L.A. on Tuesday, June 10, 2025 in Los Angeles, CA. Jason Armond Curfew issued During an evening press conference, Bass said that since demonstrations have continued to escalate into violence, resulting in dozens of arrests and more than 20 businesses looted, she would impose a curfew. "The curfew will be in place tonight from 8 p.m. to 6 a.m.," she said. "We certainly expect for it to last for several days." It runs for one-square mile in the downtown area from the 5 Freeway to the 110 Freeway and from the 10 Freeway to where the 110 Freeway and 5 Freeway merge. "The city of Los Angeles is a massive area, 502 square miles," Bass said. "The area of downtown, where the curfew will take place, is one square mile ... Some of the imagery of the protest, of the violence gives the appearance as though this is a citywide crisis and it is not." Protesters gather in front of California National Guard soldiers and LAPD officers guarding the Edward R. Roybal Federal building as protests continue in Los Angeles on June 10, 2025 in Los Angeles, California. / Getty Images Demonstrations continue Tuesday Dozens gathered once again Tuesday, but police were quick to close in on the growing crowd near the Metropolitan Detention Center. With the CBS Los Angeles helicopter overhead, multiple people were seen being detained and loaded onto buses by officers. At around 4 p.m. a small crowd moved towards the 101 Freeway, briefly entering southbound lanes before they were met by the California Highway Patrol. Some officers stopped traffic as others formed a skirmish line to prevent the pedestrians from moving further into the road. Despite law enforcement blocking offramps and onramps for the thoroughfare, the crowd was able to gain entry through a hole that had been cut in a chainlink fence. On Sunday, hundreds of demonstrators flooded the same stretch of freeway, where they clashed with CHP officers. At around 7:30 p.m. CBS News Los Angeles reporters said that tensions again escalated outside of the Edward R. Roybal Federal Building, where people in the crowd began hurling projectiles towards a line of National Guard troops stationed out front. When the curfew went active 30 minutes later, dozens of LAPD officers arrived outside of the building, which prompted much of the crowd to begin leaving the area. Still, dozens of people attempted to hang around, resulting in their arrests. It's unclear exactly how many people were taken into custody. With the CBS News helicopter overhead, a group of dozens were seen still moving through the area, some stopping to tag the side of buildings and Metro buses. By 11 p.m. most of the people who had previously gathered downtown appeared to have left the area. A crowd of protesters outside of the Edward R. Roybal Federal Building in downtown Los Angeles on June 10, 2025. KCAL News How it started The protests began Friday night after several immigration raids took place in the Westlake District, downtown and South LA. The CBS News Los Angeles helicopter flew over the locations where crowds quickly formed, and protesters attempted to prevent federal agents from placing individuals into vans. One of the 45 people arrested that day was local union leader David Huerta. The protests that took place over the weekend were declared unlawful assemblies and people were ordered to disperse and clear the area. In each case there were small pockets of the demonstrations that turned chaotic, which included hundreds of people converging on the 101 Freeway to block traffic on Sunday afternoon. That same day, several Waymo vehicles were torched to the ground by one group of people. The day prior, hundreds of demonstrators clashed with law enforcement in Paramount and Compton. Reporters on the ground saw as law enforcement and troops dressed in riot gear attempted to clear crowds by using tear gas, beanbag rounds and flash bangs into crowds to try and disperse people. Department of Homeland Security Secretary Kristi Noem posted on X that people who "lay a hand" on law enforcement officers will be prosecuted to the full extent of the law. So far, nearly 400 people have been arrested in the series of demonstrations, Newsom said on Tuesday. Protesters gathered in downtown Los Angeles on June 10, 2025, marking the fifth consecutive day of anti-ICE protests. KCAL News National Guard and military in Los Angeles The Marines began arriving in the LA area on Tuesday morning, a defense official said, joining the thousands of National Guard troops already in the area to respond to the protests. Acting Defense Department comptroller Bryn MacDonnell testified before the House Appropriations Subcommittee on Defense and said the deployment of the National Guard will cost about $134 million. On Tuesday, California Attorney General Rob Bonta asked a federal judge to provide a temporary restraining order to stop Mr. Trump, Defense Secretary Pete Hegseth and the U.S. Department of Defense from using the military and the National Guard to patrol the region and protect federal officers and facilities. The day before Bonta filed a lawsuit against the Trump administration, arguing the orders are unlawful and exceed the federal government's authority under the Tenth Amendment. "President Trump's order calling federalized National Guard troops into Los Angeles — over the objections of the Governor and local law enforcement — is unnecessary and counterproductive. It's also deeply unfair to the members of the National Guard who are hard at work every day protecting our state, preparing for and responding to emergencies, and training so that, if called, they can fight our nation's wars," Bonta said. Bass blamed the unrest in LA on the federal government's involvement, saying that before immigration enforcement actions last week, the city was "peaceful." During a speech at Fort Bragg on Tuesday, Mr. Trump called the protests "a full-blown assault on peace, on public order and a national sovereignty. He said that if it weren't for his calling in the National Guard, L.A. would be "burning to the ground right now" and that the majority of the demonstrations were allegedly "carried out by rioters bearing foreign flags with the aim of continuing a foreign invasion of our country" and that he would "liberate" L.A. Democratic California Sen. Alex Padilla spoke with CBS News' Major Garrett on Tuesday regarding the actions of immigration enforcement and the several days of protests. He said that while the majority of the demonstrations have been peaceful, "the folks that show up after dark and are involved with the looting and the vandalism ... we denounce that." He called the ongoing situation a "crisis of Donald Trump's making." 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Yahoo
31 minutes ago
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